OLD National Bancorp IN Buys 176 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

OLD National Bancorp IN lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,206 shares of the financial services provider’s stock after acquiring an additional 176 shares during the period. OLD National Bancorp IN’s holdings in LPL Financial were worth $1,047,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in LPL Financial during the 3rd quarter worth approximately $31,000. Paladin Wealth LLC acquired a new position in shares of LPL Financial during the third quarter worth approximately $34,000. Brooklyn Investment Group bought a new position in shares of LPL Financial in the 3rd quarter worth $43,000. R Squared Ltd acquired a new stake in LPL Financial in the 4th quarter valued at $78,000. Finally, First Horizon Advisors Inc. increased its stake in LPL Financial by 32.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 94 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LPLA has been the topic of a number of recent research reports. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $277.00 to $413.00 in a report on Thursday, December 19th. Morgan Stanley lifted their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays increased their price objective on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company lifted their target price on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Citigroup increased their price target on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $370.50.

LPL Financial Trading Up 1.4 %

Shares of LPL Financial stock opened at $366.89 on Friday. The firm has a market cap of $27.47 billion, a PE ratio of 27.59, a P/E/G ratio of 1.11 and a beta of 0.87. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $375.74. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a fifty day moving average price of $335.66 and a 200-day moving average price of $273.82.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 16.17 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.33%. LPL Financial’s payout ratio is 8.55%.

About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.